AL-SALAM REIT ANNUAL REPORT 2018

AL-SALĀM REIT ANNUAL REPORT 2018 36    Tenant % of Total Income Metrojaya 10 Good 2 U 5 Padini Concept Store 2 Brands Outlet 2 Marks & Spencer 2 F.O.S 2 RHB Bank 2 Adidas 2 Angry Bird Activity Park 2 Kapitan Grocer 2     Existing Use 4-level Shopping Mall GFA 623,374 sq ft NLA 397,076 sq ft Number of Car Park Bays 1,311 Market Value RM465,000,000 Number of Tenancies 125 Occupancy Rate 95% Overview Of Property Located in the heart of the Central Business District of Johor Bahru City Centre, KOMTAR JBCC ofers an array of outlets of famous international brand such as Swarovski, Chanel, Estee Lauder and Dior amongst others. The 4-storey shopping mall with car park complex is attached with an existing 25 level purpose-built oice tower known as Menara KOMTAR and newly completed 37-storey purpose- built oice tower known as Menara JLand. Being adjacent to CIQ with excellent pedestrian connectivity to the mall allows KOMTAR JBCC to further capitalise its potential visitors from outside its identiied catchment. A proposed international hotel to be known as Holiday Inn Johor Bahru City Centre will be part of the KOMTAR JBCC mixed-use development and is expected to be completed in 2020 and that will further increase the catchment of the mall. The table below sets out a summary on KOMTAR JBCC as at 31 December 2018. Operational Review Retail Segment Komtar JBCC i. Top Ten Tenant The major tenants contributed for approximately 31% of total income. TENANT PROFILE Major Asset Enhancement Initiative There was no major asset enhancement initiative undertaken for year 2018. KOMTAR JBCC is currently undergoing few AEIs from March 2019 and expected to be completed by end of FY2019. (i) Reconiguration exercise at the ex-Metrojaya area With the departure of Metrojaya, there will be substantial empty space in KOMTAR JBCC. On a positive note, it will now giveAl-SalāmREITopportunity to reviewand reviseKOMTAR JBCC’s tenant mix in order to better cater to the needs of the visitors and shoppers given the competitive environment. The ex-Metrojaya area will undergo reconiguration exercise that eventually will ofer the chance to create more space for mini anchors and specialty stores. Upgrading of facade at KOMTAR JBCC Creating space for new specialty tenants